Postal orders have gone hi-tech - you're now able to collect money paid out using a barcode sent to your mobile phone or email address.
The Post Office has launched a new service which allows you to receive money transfers electronically via a barcode. The barcode is scanned in a Post Office branch and you receive the cash payout over the counter.
The Payout service can be used at any of the 14,000 Post Office branches nationwide. It's essentially a modern version of the postal order. It allows companies and government agencies to send cash payments and promotional incentives immediately to users.
Using the latest barcode technology, companies simply send a reference code by text, email or post which customers take to any of the UK’s 14,000 Post Office™ branches to receive an instant cash payment.
Instead of getting a cheque in the post, you'll receive a barcode, either on paper or electronically via your mobile phone or email. The barcode can then be scanned at a Post Office counter and the cash handed over. For high-value payouts, you'll have to go through additional security checks and provide your signature.
The Post Office itself has already used the service as a means to send £50 cashback payments to its car insurance customers. Both British Gas and Unilever have trialled the service to send payments to customers.
